Member Info for tbcx

Lol now they release a correction for for the most important detail of all, you could not make this sh*t up. Why would they pledge 147 btc in collateral when that is a massive amount valued at way in excess of the borrowing. If they legally own it why wasn't it included in interims? It's not hard to get this stuff right, should be such a simple debt free business but a number of things are not adding up here.

Worst part is the big lag between updates. I thought the were just bad at PR but it's now clear they reason they were so quiet is because they didn't want to draw attention to fact they were selling down - and doing so at year lows.

Since June, the market had no idea any of this was happening and was under the impression they held these btc all along, like any other normal btc treasury. It turns out that wasn't the case at all.

There are also discrepancies with the values given. The total values given against crypto holdings are misleading. If they have sold all these assets, where's the corresponding investment going? Where has the cash from those sales gone?

These are dreadful results and I'm not surprised by market reaction.

When every other treasury has been buying bitcoin, they were selling bitcoin at worst possible time. From 247 down to 99 as of June

To make matters worse they completely sold their Ethereum holdings in the first half of the year. Eth price since then has rocketed but they totally missed out.

Fantastic to see the Thermo Fisher deal still in place and already starting to generate revenue.

It's worth reminding ourselves of the significance of Thermo. Those guys are a true big pharma juggernaut, valued at $174bn. For them to have a commercial deal in place here proves the product and vindicates the science. As the company continues to scale up, this can only continue to grow.

Let's be honest, if any other lse listed micro cap biotech came out today and announced a commercial deal with likes of Thermo, you can guarantee their shares would skyrocket. Only a matter of time for the market to notice what we have here - and I fully intend to be holding when that happens.

The thing is the company is more than one man. Underlying all this there are the bones of a decent company here exposed to the right assets at right time - but only really being held back by CEO saying some strange sh*t. Like in any plc though, if CEO doesn't deliver ultimately they should be shown the door. Major shareholders have power to force change, let's see what happens in October.

If you know of any stock picker who gets it right every time, we are all ears.

Interesting to see Schroders increase their stake here. They are as big as institutional investors get in UK really. They participated in a placing last November at 11p - hard to believe now with price down here, but that was under a year ago, last November. At the time was a 29% premium. Anyone buying now is still paying a fraction of their average.

Simon Thompson is just a share tipster - and one of the better ones imo.

Good track record for highlighting some of the UK value opportunities - of which this stock certainly is.

It bodes well if we settle above the 1p mark - and every reason to given the near term newsflow expected here plus gold continuing to do its thing.

From this baseline, once a bit of a momentum kicks in I see absolutely very little resistance back towards 3p.

Most of book value is goodwill/intangibles.

In 6 months cash fell from £900k to £377k - that's more than £500k out the door.

Top line revenue from operations fell from £97k to £37.8k. That is less than you corner shop makes.

This is not a viable business.

PS I wouldn't care less this company, plenty of basket cases out there, but only came to my attention as Spitfire44 was ramping it up a storm across multiple boards - goes to show that guy has absolutely no idea what he is talking about.

With drill well and truly underway could get an RNS at anytime here - I certainly intend to be holding when news lands.

Good to see confirmation drill commencing and reminder it's fully funded. Can't ask for more than that. Plus before then Tungsten sampling results at time when US government more loudly than ever recognizing need to secure supply of critical minerals. Well here we have that on their home soil. With these catalysts, could be a game changing quarter here.

Another Paul personally bankrupted twice Elliott special. See also AEG.

Unclear who that's addressed to when nobody in this thread has claimed mining comes without costs.

Estimates given of circa $70m refers to revenue - which by definition is before costs.

Substantially more than £6.5m you'd think.

The most recent presentation mentioned their objective is to quantify a 1million oz resource. From current market cap, no question these are potentially mind blowing numbers.

A spectacular result here today, well done all. It's not every day you see a +150% move.

My only regret is not buying more, but will remind myself that as much of a sure thing it seems now, that wasn't always the case, so taking into account risk has to be the game we all play.

Would like to thank a couple of posters in particular for highlighting the potential that was here before today's blockbuster result - tomhuk2000 and ID78. Cheers 👍

Nothing against Wishbone, as an investment personally not for me see as having already seen that monster 1500% YTD gain there not clear how much upside left. There is a lot of good news baked in there.

The stock has however definitely been a net positive for sector in shining a light on just how far peers in region can go. Which for me is where FDR come in. Unlike Wishbone we have effectively zero news baked in right now. At this low market cap I see enormous upside potential with news going our way.

Fantastic news, company well and truly funded to focus on gold in Brazil, plus a reminder this gold site already had $2m on exploration. No chance market cap stays this low for long.

"The Company is in discussions with the FCA regarding the circumstances that led to the resignation of its previous auditors."

That line stood out, must be an interesting discussion. Seems even sleepy FCA have spotted company might need a grilling over exactly why auditor decided they'd seen enough. Was a huge red flag company tried to sugar coat news in that RNS with borderline misleading wording about an "auditor transition".

Wishbone already at £50m with what they have, does make you think where FDR could go from current tiny ~£8.5m market cap.

Given our location and proven team onboard, with a bit of newsflow I see absolutely nothing stopping this achieving a similar valuation.